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Those interested in Hugo Salinas Price's articles/essays.
https://www.plata.com.mx/Mplata/articulos/articles.asp
Interesting & informative reading with over 100 of his articles.
'The Silver Ruble Coin for Russia'
'How Much Gold is in India'
'Trump's Ignorance'
'Its 1790 All Over Again'
SP, shame on me because JP Morgan Chase (JPM) has fooled me more than once by taking silver (down) to a price I least expected. After reading Ted Butler's article I'm looking for reasons why JPM might try to quickly recoup its losses on certain items experienced in 2013.
I'm figuring their court ordered billion$ in fines might have impacted their bottom line at a really bad time. Jim Willie points out JPM Chase's sale of their Manhattan headquarters to the Chinese for $725 million was beyond strange. (Remember this included a secure vault 10 stories underground as big a a football field). After researching the true value of JPM's headquarters at $2-$3 BILLION he smells something foul - like nearly defaulting a huge loan from the Chinese. He thinks they practically gave their headquarters away to avoid defaulting and he suspects a huge derivative (bet) loss was involved.
So, it could be ? during 2014 JPM might have extra incentive to run silver and gold up to profit from their huge holdings of both metals.
wer123, Thanks for posting some of a Ted Butler's research re. JP Morgan Chase's (JPM) manipulating itself into a currently huge stash of gold and silver. At the end of a much similar article Butler offers a good reason to consider owning a good position in silver by saying "We fell sharply in 2013 because of JP Morgan and will likely rise sharply in 2014 for the same reason. From my perspective that's all that matters."
http://www.silverseek.com/commentary/2013-%E2%80%93-year-jpmorgan-12815
While Butler is likely the most knowledgeable on silver manipulation it seems he might have underestimated JPM's ability to take silver's price down so much. Conversely IF JPM chooses to run the price up this year hold on to your hat/silver.
Great Charts NYBob. From a traditional technical read silver
has broken support and could be headed for the mid teens. I
suspect those manipulating use technical analysis as a tool to assist them in taking the price to whatever it suits them.
Prospective physical silver buyers with patience and long term goals might want to wait for significantly lower prices.
Norton, your Polar Bear purchase looks good. (Westminster Mint shows they're out of 1/2 oz. Polar Bears @ 39.95)
I'm thinking most PS purchases lately will eventually be envied and considered great buys. Eventually is the key
word : ). Eventually silver ought to sell at its fair market value. When that will be is a mystery - possibly after China & Russia 'assist' world currency reforms to encompass currencies partially backed by gold & silver. This might take some time .... a lot of time according to my liking.
In the mean time you have some nice coins to trade.
This AM silver lost $ 1.15 in one minute of trading on high volume - proof positive of high speed manipulative computerized trading !
Someday price suppression of silver will end...someday.
"In a stunning development, two JP Morgan whistle blowers have confessed that the bank manipulates the gold and silver markets". This came late last Friday and the article can be accessed at http://www.kingworldnews.com Several subsequent articles citing the whistle blowers and possible impact on gold & silver pricing followed.
I'm wondering if this will have much initial price impact when Eastern & European markets open shortly (since most everyone with a brain stem that has been interested in buying PMs already knew about the manipulation) ?
griff, Very interesting. You've introduced another (military) use of silver that's rarely mentioned which raises questions.
Apparently silver is a very crucial military element. Could the US government be involved in silver's price suppression to (among other things) support the Department of Defense's budget ?
SP, As for the PM paper market I'm just waiting for the results of the physical markets overwhelming the criminal paper ones - seems to be in that process now. Been said before~~~> the paper shenanigans have been a blessing by allowing folks that aren't wealthy more time to acquire physical precious metals (PPM).
It'll be interesting how much of a blessing PPM will be in the next few years for the average Joe that bit the bullet and stacked as much as possible.
Re. JPM's short position in silver all sorts of illegal activities have been swept under the rug with no regulatory (US gov) agencies doing anything. Just wondering if JPM can sit on their short position forever with nothing ever being done ? How convenient that would be for the government regulators & JPM.
one4theroad, most give credit for this week's silver bounce off the bottom to Bernanke's 'continued easing' statement. Whatever the reason/s silver is up might be supported by the information contained in a Silver Doctors article posted 6/14/13 alluding to a sizable reduction in silver short position held by commercials.
(Sorry my link didn't work and I erased it).
SP, thanks for the correction. Slim is #1 & by far richer than Price.
The article by Price has been around for months and has gained more validity since written.
Not sure I was "wrong" re. the article written by the two from Sprott Group. I never endorsed as true or even likely what they stated - just tried to bring it to this board for each to consider.
Hugo Salinas Price (wealthiest person on Planet Earth) has a cutting edge business mind and as such sees the U.S. economy as a business in need of restructuring. I'm sure he's aware that his suggested program is politically unacceptable - at least at this time.
Addendum to Sprott Group silver short article.
My apologies. The info' of David Franklin being the writer is incomplete.
The article was co authored by David Franklin (dfranklin@sprott.com) and David Baker (dbaker@sprott.com).
Both offered their Email address. Might be interesting to ask them where they got the short numbers presented in their article. I've sent Baker an Email questioning the numbers.
SP, The short numbers offered were by David Franklin who apparently works for Eric Sprott. If Mr. Franklin is widely mistaken re. the numbers he presented it raises the question why Sprott Group would release his article under its name.
I very much respect your opinion and figure you've good reason to suggest Franklin's numbers aren't correct. The article's title
Silver...Light at the end of the Tunnel ? has been used before
but this one by Franklin can be accessed at proactiveinvestors.com.uk if you care to read it or I'll forward you the Emailed copy I received yesterday.
It would suit me fine if silver stays down - I'll just buy more. It'll go up, probably way up someday.
Thanks WC. Got turd bookmarked and will read his info' on silver short coverings.
Encouraging silver short position numbers.
I received an Email article entitled Silver...Light at the End of the Tunnel ? by David Franklin who apparently works for Eric Sprott.
In Franklin's article he says The recent COMEX disclosures have revealed a staggering drop in the 'Commercials' outstanding short positions from 259 million ounces in Feb. 2013 to 20 million ounces as of the last COT report released June 25.
The article suggests a possible light at the end of the tunnel re. silver pricing.
Toofuzzy, Sorry for the dated article & thanks. I too quickly looked for a date. If it can't cover with ultra low pricing maybe it'll neutralize its short position by acquiring a sufficient long position.
paidmyway, good answer to why JP Morgan may never cover it silver short position. (I missed the reason you've supplied).
Toofuzzy, "Does anyone know if they (JP Morgan) started reducing its short position ?" There have been several articles suggesting JP Morgan has reduced its humongous short position in silver. Here's one http://thedailysheeple.com/jp-morgan-admits-to-massive-silver-short-position-now-reducing-holdings_122010 Two that likely know are Ted Butler and Harvey Organ and I haven't been reading them lately.
IMO JP Morgan is a U.S. government proxy and as such might not need to cover its short position. It could just be 'forgiven' via bailout, failure to prosecute, acquisition, etc.
DT, congrats on getting back to near 1000 ozs. Know it took you a while. I picked up a bit - little bit : ) - a few cents higher than you.
WC, speaking of gut feelings, I have one that suggest it might take JP Morgan many months to completely cover its silver short position and sufficiently acquire enough to go long. I'm going to follow my feeling, slack off buying for a while, watch & wait for lower pricing.
If I'm right I'll have plenty of time to acquire more later - maybe much later.
Best of circumstances to everyone.
Scary to say most Westerners' long-term plans would be considered short-term in Chinese thinking. Those willing to forgo short term pleasures for long-term goals are known to be very successful later.
The long-term outlook for silver is fantastic and from this perspective current silver pricing - adjusted for inflation - is near what it was 10 years ago.
Human nature is telling us current physical silver investing is for fools. Pure logic whispers to us to get on the side of the bullion banks who are accumulating and will run the price as high as they've run it low.
Several analysts are sure the bullion banks ie. JP Morgan Chase, etc. (with the Fed's and government's blessings) are the culprits driving PMs so low. These banks have enormous short positions to work off plus the loading of their vaults at cheap prices before a solid bull market happens.
We are witnessing raw, unbridled greed in action.
SilverEagle,Yeh...know the feeling well -could of, should of. I'm blessed being able to stick to my plan of systematically buying a bit more.
Something tells me when we/stackers begin feeling the pinch of low pricing the manipulators have done a good job at making silver something no one wants. With this in mind it seems the bottom might be near.
W0W, gold @ 1246 ... silver @ 18.74. Wondering if both will go lower tonight ?
Stinky pinky, (as you know) when a market is down very few want to buy. Emotions say not to get near something suffering. Gold is suffering and you're off to see how much of it you can find which puts you at the top of contrarian investing.
Hope you find so much you have to put 80 psi in your tires : )
WC, Mr. Wagner seems to take the government's view that: (1) "the economy is stabilized".... Shadow Stats shows unemployment figures don't support this (2) "moderate economic growth" ...the so called economic growth has been supported with copious fiat dollar printing (3) "no inflation" ... everyone knows the government's CPI numbers are rigged on the low side. Shadow Stat figures show an average 8% inflation per year for the last 10 years. Compounded this makes physical gold buying at least a good investment.
As for all of this great economic news being the reason gold is down from its $1900ish high everyone who's not brain dead or media brainwashed knows the normal gold bull market correction has has lots of manipulative help downward.
xjag, Your frustration has to be felt by those who watch what's happening to our country and especially those trying to protect their assets with physical precious metals accumulation.
Bernanke & the Fed floated the idea of reigning in QE and we've seen the results it had on the stock market. IF the stock market has a significant downward correction with above average margin calls we'll no doubt see more gold&silver selling. As Yogi said It ain't over till it's over or was it It ain't over till the fat lady sings ? Anyway, 'stackers' might stay on their toes for this possibility.
snootmagruder, good chart analysis is appreciated
and if done on something not manipulated usually reveals its general future. However, PM prices seem to to be manipulated. This is not to say when both gold&silver reached their highs a couple of years ago they weren't due for a sizable correction. I'm thinking their extended and exaggerated corrections were 'helped' in an unlawful way.
Appreciate your analysis of a bounce or base for gold&silver and hope it's accurate.
SilverEagle, silver 19.84 X 19.92...gold 1288.08 X 1288.87
Never seen such a small bid/ask spread on gold - all a buyers delight.
Like I'm preaching to the choir here but SOMEDAY I figure the ultimate silver bull run will occur when ultra heavy industrial silver buying caused by fear of adequate supply meets a world-wide S' buying stampede by scared individuals. This might not be very soon.
Patience will probably be rewarded in spades.
Figured the odds for a price raid over the long weekend were at least 50/50. It didn't happen... goes to show those manipulating PM's pricing have their own timing which defies typical analysis.
SP & others living in Texas....Those living in Texas buying silver&gold coins and bullion from Texas based sellers have had to purchase $1000 or more to avoid a 6.25% sales tax. Texas House Bill 78 will eliminate such sales tax, has passed both Houses and is headed to Governor Rick Perry's desk for signing.
This ought to be a model for other states charging s' tax on such sales.
After bouncing off the bottom gold & silver prices are both moving horizontally into Memorial Day. I'm wondering if the cartel will take advantage of lighter trading on Monday for another price lowering raid ?
White Cobra, re. $10 silver, theoretically the entities controlling paper silver prices could move the price anywhere. At some ultra low price point even Blythe Masters couldn't dream up a story big enough to cover JP Morgan's ass.0r maybe she could : ))
Anyway, good to read you can likely hold your sterling
White Cobra, the larger economic trend could extend itself for months or years and present you great opportunities later.
WC, Sp, As you likely know, the Wall Street Journal has just released an article by Jon Hilsenrath re. the Fed's future ideas about cutting back on printing. This could make the hints a bit more official and help supply the cartel with fuel for another PM take-down.
Sp, yep I'm waiting for the next raid to buy more.
Correction re. rumor of Fed's stimulus exit. Sunday evening gold&silver prices will be interesting.
More pummeling of gold&silver prices could be fueled by
a strong rumor of Fed's announcement to exit their current
stimulus. Those interested Google Fed Maps Exit from Stimulus
Curious to see how this will impact prices this evening and into the week.
Sp, I've given up trying to caution friends and even my son about the possible final destination of current economic events. Doing so has cost me their respect. They seem comfortable living in a world that for them hasn't changed very much and to their thinking might have only minor future changes. Here in Texas they still go to their jobs, invest in IRAs, own paper investments, eat at favorite restaurants often. It seems they believe things won't change because they haven't. None want to look closely at the sick financial structures that underpin their everyday financial lives.
There is a phrase more and more well respected financial analysts are using - "What's happening isn't going to end well".